This issue has been proposed when we are only considering blocker
issues in the current Red Hat Enterprise Linux release.
** If you would still like this issue considered for the current
release, ask your support representative to file as a blocker on
your behalf. Otherwise ask that it be considered for the next
Red Hat Enterprise Linux release. **

Just tried to reproduce this one following the steps described in the description but it does work for me. Tested with qemu-kvm-0.12.1.2-2.113.el6.x86_64 and latest checkout from Eduardo's repository (HEAD 76a4a8cfb6a).
I really think this is a dupe of bug 624721, can you please check?